UK based upstream oil and gas company Aminex has nearly tripled its resource estimate for the Ruvuma Petroleum Sharing Agreement (“Ruvuma PSA”) in Tanzania.
The operator said the gas initially in place (‘GIIP’) in the Ntorya appraisal are a was closer to 1.3 trillion cubic feet – up from the unrisked resource estimates of 466 billion cubic feet.
This three-fold increase from the estimate provided immediately after the Ntorya-2 well and issued in late April 2017 is based on ongoing technical work which includes; data from the successful Ntorya-2 appraisal well, and subsequent re-evaluation of existing seismic, including reprocessing of select seismic lines and detailed review of all well data associated with the onshore Ruvuma basin.
The results of the additional work and the Ntorya-2 well have led to nearly an overall ten-fold increase in the estimated in place resources in the Ntorya gas-condensate field as compared to the estimates made following the original discovery well Ntorya-1.
Aminex is in the process of engaging an independent third party auditor to prepare an updated reserves and resource report (“Competent Persons Report”) for the Ruvuma PSA.
The partners in the Ruvuma PSA also continue to work with io oil & gas consultancy, a joint venture between Baker Hughes, a GE Company, and McDermott, to prepare a gas commercialisation plan which will be submitted together with the Ntorya Field development plan to the Tanzania Petroleum Development Corporation (“TPDC”) in September.
The 3,447 km2 Ruvuma PSA is located in southern Tanzania within the highly prolific Ruvuma Basin where it has reported that more than 160 TCF* of gas has been discovered in recent years.
Aminex operates with 75% working interest through its wholly owned subsidiary Ndovu Resources Limited.
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